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Get the facts: Vanguard’s role as a passive investment manager
February 26, 2026
Vanguard is trusted by more than 50 million investors1 to help them achieve personal financial goals like a secure retirement, a college education, or a new home. As an investment manager owned by the investors in our funds2, our proven approach is focused on safeguarding and promoting their long-term financial returns. Our mission is to generate long-term returns for investors. Our investor-owned structure means we can offer high-quality funds and ETFs that are among the lowest-cost in the industry.
In fact, an independent Morningstar analysis recently found that Vanguard funds have helped to create $4.6 trillion in wealth and shareholder value over the 10 years ended December 31, 2024, more than double the next leading fund family.3
1 As of December 31, 2025.
2 Vanguard is owned by its funds, which are owned by Vanguard’s fund shareholder clients.
3 Source: Morningstar calculations as of 12/31/2024. Morningstar's analysis ranked U.S.-based mutual funds and exchange-traded funds to determine how much growth a fund has created from market appreciation in dollars. https://www.morningstar.com/funds/top-15-value-creators-fund-industry
Disclosure:
Visit vanguard.com to obtain a Vanguard fund or Vanguard ETF prospectus, or, if available, a summary prospectus, which contains investment objectives, risks, charges, expenses, and other information; read and consider carefully before investing.
Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.
All investing is subject to risk, including the possible loss of the money you invest.